All Forum Posts by: Brian Baker

Here is theYoutube Playlist for this property's progress

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $180,000
Cash invested: $100,000

This is my newest multifamily BRRR. It's a huge project. I can't wait to make it a great rental for some folks.

Youtube Playlist link: https://youtube.com/playlist?list=PLogWep7oONLKU0PuiFY54VuEtyY_xTjN9

What made you interested in investing in this type of deal?

I could afford it, and the numbers worked out as far as I could tell.

How did you find this deal and how did you negotiate it?

MLS. I went back and forth with the owner on price and terms.

How did you finance this deal?

Hard money

How did you add value to the deal?

Renovations and added bedrooms and bathrooms to the downstairs space.

Lessons learned? Challenges?

I'm still learning and working through challenges every day!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely, My real estate agent is Donna Baker out of New Braunfels Texas JB Goodwin office

I also made a youtube channel devoted to my real estate investment journey. Here is the first video on this house with some more numbers. 

My first investment property video

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $156,000
Cash invested: $57,182

This is my first Rental property. I made a video on all the details here: https://youtu.be/etPNkEj4VK4

What made you interested in investing in this type of deal?

I really just wanted to get my feet wet and do a deal. I learned a ton and at the end of the day, my money is invested in an appreciating asset that is cashflowing.

How did you find this deal and how did you negotiate it?

I found it off the MLS. Pretty plain vanilla. I negotiated based on property condition. All my numbers lined up and it was a viable deal, not a slam dunk, but something I have potential exit strategies for if the need arises.

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

I did some work on the house to update it. I made a video on all the details here: https://youtu.be/etPNkEj4VK4

What was the outcome?

It has a happy renter and I get checks in the account monthly.

Lessons learned? Challenges?

Right now, accessing the equity in the property. Texas has some laws against HELOC's on investment properties that I was unaware of. That has me a little stumped at the moment, but I'm hoping to find a work-around.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Absolutely. My realtor was Donna Baker, a New Braunfels Based realtor working with JB Goodwin.

I appreciate the response! I have started making a connection with a contractor in the area and I approach that relationship like I approach most business relationships. I look to add value. This contractor has started investing himself and I have been helping him with the resources that led me down this path and we compare notes on property evaluations. I have no issues sharing whatever knowledge or leads I have with others. I will also keep my eye out on the inbox if folks want to share less publicly. I'll only share what I have experience with and definitely will not share others' information when asked to do so. I know some folks take a more guarded approach and I don't blame them. It's very interesting to see the different approaches and mentalities individual investors have.

Alright. . . .I'll start off with who I've used. First, I'll say my approach to services involves understanding you get two of the three out of; Fast, Cheap, Good. I usually want fast and quality, so I don't always choose the cheapest because good and cheap usually comes with a wait list.

For my Seguin property:

SFX Electric - small operation that moves quickly.

Tri-State plumbing - average plumbing company.

BT's Treeworks - good ole' boy who loves his work. Highly recommend.

A&C Drywall - Fast. He "skim-coated" and retextured every surface of the house in a week without hurting the hardwood floors.

Alamo-Hytech - they were willing to come out and give foundation repair quotes during the due-diligence-period and get me quotes I can use during the negotiation.

For my Converse Property:

DC Restorations - they mainly do insurance work. I wouldn't recommend them for an investor.

Dynasty roofing and restoration / Advanced remodeling and restoration - two companies ran by the same guys. They are reliable and relatively fast. They are not the cheapest but the work quality is good.

Downtown San Antonio property:

I haven't really started but I have lined up and vetted a few companies. More to come on that.

Does anyone have a contractor they could recommend in San Antonio? I have a 4 plex that will need a major renovation that can start very soon. I have some quotes but I haven’t clicked with the right general contractor. Looking for some recommendations.